Just Economy Session – Older Adults, Banking and Financial Management During COVID-19

Online Event Archive Recorded Thursday, September 10, 2020 –

The COVID-19 pandemic has highlighted the increasing importance of technology as a means of social connection, personal empowerment, commerce and financial management. For older generations who are considered an at risk population for COVID-19, the need to shift their financial management systems online is critical.

 

During this webinar we discuss highlights from the Financial Health Network’s Fintech Over 50 report. Based on in-depth research with over 90 low- and moderate-income older adults, we uncover barriers to fintech adoption and some key opportunities to better design fintech products and services to support this population during the pandemic and beyond.

We are joined by the Consumer Financial Protection Bureau’s Office for Older Americans to discuss scams related to coronavirus that are affecting many consumers during the pandemic, such as healthcare scams, fake charity scams, errand helper scams and government imposter scams. We offer tips to protect against fraud and scams while using mobile banking and other financial technologies.

Speakers:
Hannah Gdalman, Associate, Program Team, Financial Health Network
Karen Kali, Senior Program Manager, NCRC
Kate Kramer, Policy Analyst , Office for Older Americans, Consumer Financial Protection Bureau (CFPB)

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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